The CEO of a Twin Cities-based pharmaceutical and medical equipment company has been charged with tax evasion, allegedly owing the IRS more than $6 million.
Charges filed Tuesday in U.S. District Court say 68-year-old Larry W. Lindberg, of Mounds View, failed to pay the IRS "several hundred thousands dollars in federal payroll taxes" each quarter starting from 2011 and lasting until 2021.
The charging document accuses Lindberg, the owner and CEO of Mounds View-based Midwest Medical Services, of committing "various affirmative acts of evasion" by diverting funds from the business to other limited liability companies.
Lindberg is accused of then using the diverted funds for travel and other personal expenses, in addition to buying properties and then placing them and other assets in the names of other limited liability companies controlled by third-party owners, in order to to disguise his ownership and control of the property.
The U.S. Attorney's Office say Lindberg's company owes (as of December 2020) more than $4.4 million in taxes, with that total increasing to more than $6 million with interest and penalties.
Lindberg is due to make his first appearance in U.S. District Court on April 21.
According to his LinkedIn page, Lindberg founded Midwest Medical Services in March of 1981. The company has locations across the Twin Cities under the name of Midwest Medical and Freedom Medical, according to the company's website.